{"id":660171,"date":"2025-02-24T11:23:19","date_gmt":"2025-02-24T16:23:19","guid":{"rendered":"https:\/\/erickimphotography.com\/blog\/?p=660171"},"modified":"2025-02-24T11:26:05","modified_gmt":"2025-02-24T16:26:05","slug":"half-a-nakamoto","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/","title":{"rendered":"Half a Nakamoto!"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660184\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5896-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5896.jpeg?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-meta=\"{&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"IMG_5896\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5896.jpeg?fit=882%2C1280&amp;ssl=1\" data-id=\"660184\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5896.jpeg?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660184\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5896.jpeg?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5896.jpeg?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660186\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5898-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5898.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5898\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5898.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660186\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5898.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660186\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5898.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5898.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660188\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5899-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5899.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5899\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5899.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660188\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5899.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660188\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5899.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5899.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660187\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5900-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5900.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5900\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5900.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660187\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5900.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660187\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5900.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5900.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660185\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5901-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5901.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5901\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5901.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660185\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5901.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660185\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5901.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5901.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660182\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5902-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5902.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5902\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5902.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660182\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5902.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660182\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5902.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5902.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"882\" height=\"1280\" data-attachment-id=\"660183\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5903-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5903.png?fit=882%2C1280&amp;ssl=1\" data-orig-size=\"882,1280\" data-comments-opened=\"0\" data-image-title=\"IMG_5903\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5903.png?fit=882%2C1280&amp;ssl=1\" data-id=\"660183\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5903.png?resize=882%2C1280&#038;ssl=1\" alt=\"\" class=\"wp-image-660183\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5903.png?w=882&amp;ssl=1 882w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5903.png?resize=768%2C1115&amp;ssl=1 768w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\" \/><\/figure>\n<\/figure>\n\n\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/form-8-k-filing-2_02-24-2025.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of form-8-k-filing-2_02-24-2025.\"><\/object><a id=\"wp-block-file--media-8e143e32-dcd3-4862-959b-2b9a08b65f19\" href=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/form-8-k-filing-2_02-24-2025.pdf\">form-8-k-filing-2_02-24-2025<\/a><a href=\"https:\/\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/form-8-k-filing-2_02-24-2025.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-8e143e32-dcd3-4862-959b-2b9a08b65f19\">Download<\/a><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Strategy Acquires 20,356 BTC and Now Holds 499,096 BTC<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>2030 Convertible Notes Update<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As previously disclosed, on February 21, 2025, MicroStrategy Incorporated d\/b\/a Strategy (the \u00e2\u20ac\u0153Company\u00e2\u20ac\u009d) completed<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">a private offering (the \u00e2\u20ac\u0153Convertible Notes Offering\u00e2\u20ac\u009d) of its 0% convertible senior notes due 2030 (the \u00e2\u20ac\u01532030 Convertible<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Notes\u00e2\u20ac\u009d). The Convertible Notes Offering, which included a conversion premium of approximately 35% over the U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">composite volume weighted average price of the Company\u00e2\u20ac\u2122s class A common stock from 1:30 p.m. through 4:00 p.m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Eastern Standard Time on February 19, 2025, was well received in the marketplace and resulted in the issuance of a total<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">of $2.0 billion in aggregate principal amount, excluding the option of the initial purchasers to purchase $300.0 million of<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">additional 2030 Convertible Notes, which remains in effect until February 27, 2025. Net proceeds from the Convertible<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Notes Offering to the Company totaled approximately $1.99 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>ATM Update<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On February 24, 2025 the Company announced that, during the period between February 18, 2025 and February 23,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2025, the Company did not sell any shares of class A common stock (\u00e2\u20ac\u0153Shares\u00e2\u20ac\u009d) under its at-the-market equity offering<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">program.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Bitcoin Holdings Update<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On February 24, 2025, the Company announced that, during the period between February 18, 2025 and February 23,<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2025, the Company acquired approximately 20,356 bitcoins for approximately $1.99 billion in cash, at an average price<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">of approximately $97,514 per bitcoin, inclusive of fees and expenses. The bitcoin purchases were made using proceeds<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">from the Convertible Notes Offering.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of February 23, 2025, the Company, together with its subsidiaries, held an aggregate of approximately 499,096<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">bitcoins, which were acquired at an aggregate purchase price of approximately $33.1 billion and an average purchase<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">price of approximately $66,357 per bitcoin, inclusive of fees and expenses.<\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"800\" data-attachment-id=\"660173\" data-permalink=\"https:\/\/erickimphotography.com\/blog\/2025\/02\/24\/half-a-nakamoto\/img_5895-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?fit=800%2C800&amp;ssl=1\" data-orig-size=\"800,800\" data-comments-opened=\"0\" data-image-title=\"IMG_5895\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?fit=800%2C800&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?resize=800%2C800&#038;ssl=1\" alt=\"\" class=\"wp-image-660173\" srcset=\"https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?w=800&amp;ssl=1 800w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?resize=768%2C768&amp;ssl=1 768w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?resize=450%2C450&amp;ssl=1 450w, https:\/\/i0.wp.com\/erickimphotography.com\/blog\/wp-content\/uploads\/2025\/02\/IMG_5895.jpeg?resize=100%2C100&amp;ssl=1 100w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Strategy Acquires 20,356 BTC and Now Holds 499,096 BTC 2030 Convertible Notes Update As previously disclosed, on February 21, 2025, MicroStrategy Incorporated d\/b\/a Strategy (the \u00e2\u20ac\u0153Company\u00e2\u20ac\u009d) completed a private offering (the \u00e2\u20ac\u0153Convertible Notes Offering\u00e2\u20ac\u009d) \u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_ek_photo_artist_note":"","_ek_photo_thesis":"","_ek_photo_camera":"","_ek_photo_place":"","_ek_photo_human_moment":"","_ek_photo_sequence":"","_ek_photo_question":"","_ek_photo_canonical_claim":"","_ek_photo_ai_summary":"","_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17],"tags":[],"class_list":["post-660171","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/660171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=660171"}],"version-history":[{"count":5,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/660171\/revisions"}],"predecessor-version":[{"id":660189,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/660171\/revisions\/660189"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=660171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=660171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=660171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}